Selling your annual leave back obviously gives you a chunk of change that helps tide you over until your retirement checks start rolling in regularly, but is there some other benefit that I'm not thinking of?
Seems to me that if you don't need that money (because you have other savings to tap into) to help with the transition to retirement, that actually using your leave prior to retiring is worth more if you just consider the numbers. Not only do you get paid your full salary for those days of leave, but they would also count as additional days of service that is computed towards your retirement even though you're already enjoying a sort of pre-retirement.
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Seems to me that if you don't need that money (because you have other savings to tap into) to help with the transition to retirement, that actually using your leave prior to retiring is worth more if you just consider the numbers. Not only do you get paid your full salary for those days of leave, but they would also count as additional days of service that is computed towards your retirement even though you're already enjoying a sort of pre-retirement.
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